The 9/1/18 United Steelworkers Basic Labor Agreement (BLA) provides for a profit-sharing pool of 7.5% of the company’s profits, defined as Earnings Before Interest and Taxes (EBIT).  The company reported an unaudited Adjusted EBIT of $553,667,701.73. 

PEP payments since 9/1/12 are $32,450,000. This is in excess of the $26,500,000 pre-existing pool which was funded by the 2012 Basic Labor Agreement by $5,950,000. $4,430,000 was deducted from the profit sharing generated in Q1 2021, $620,000 was deducted from the profit-sharing generated in Q2 2021, $720,000 was the deducted from the profit sharing generated in Q3 2021, and the balance of 180,000 was deducted from the profit sharing generated in Q4 2021. As a result, the Q4 2021 profit-sharing pool after the PEP deduction is $41,345,077.63.

There were 5,952,516.73 eligible hours worked resulting in a profit-sharing amount of $6.946 per hour with a maximum of 48 eligible hours per week.

$6.946 x 520 hours = $3611.92
$6.946 x 624 hours = $4334.30

Keep up the great work! 

In Solidarity, 
Pete Trinidad Sr. 
USW Local 6787 
President